Find the amount and the compound interest on ₹ 2500 for 2 years at 10% per annum, compounded annually.
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Given :
Principle : ₹2500
Rate of interest : 10%
Time : 2 years
To find :
The compound interest and the total amount.
Solution :
First, we should find the amount,
Now, we can find the compound interest.
Compound interest :
Hence, the compound interest and the total amount are ₹525 and ₹3025 respectively.
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